Bank of Greece Chief Yannis Stournaras advocated the early repayment of the loans that the country has received under the first memorandum, stating on Wednesday that Greece is an example of resilience and stability.
Speaking at the Athens International Investment Summit (AIIS), Stournaras underlined that “the government’s commitment to early repayment of official sector loans sends a strong message of fiscal discipline and confidence. The planned repayment of loans amounting to 31.6 billion euros by 2031 – a full decade earlier than planned – will accelerate debt reduction, limit future financing needs and strengthen the country’s creditworthiness. By supporting fiscal credibility, this initiative not only reduces the required future fiscal adjustment, but also contributes to ensuring intergenerational fairness, relieving future taxpayers of part of the current fiscal burden.”
He also estimated that the immediate impact of the new tariffs is expected to be limited, as the US is not a key trading partner of the country.
He added that the current account balance is expected to improve in 2025, supported by the resilient performance of exports, the rise in travel receipts due to the extension of the tourist season, as well as lower interest expenses due to the reduction in interest rates.
“Greece today is an example of stability, resilience and opportunities – a strategic investment gateway to Southeastern Europe,” Stournaras added.
